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Singapore appointed 2 idiots to lead the task force.
- Thread starter LaoTze
- Start date
Lawrence announces fiscal support.
To help safeguard livelihoods during the pandemic, our team at Ministry of Finance (Singapore) rolled out a total of $1.4 billion of fiscal support for workers and businesses over the Stabilisation Phase from 27 Sept to 21 Nov this year.
As I had shared previously, we need not draw on the Past Reserves to fund the support measures, as our revenues have turned out to be higher than expected this year.
To ensure timely rollout of the support measures, MOF took an advance from the Contingencies Fund – a fund set up for urgent and unforeseen expenditures, like the pandemic. At a later date, we will introduce a Supplementary Supply Bill in Parliament to replace the advances.
Any advances from the Contingencies Fund requires the concurrence of the President. We had raised this matter with President Halimah Yacob earlier, and she has given her concurrence. I thank the President for her support.
As we press on together, I want to thank all public officers and agencies across the Whole-of-Government who have worked tirelessly throughout the pandemic. Your efforts – in every agency and every capacity – have been invaluable, and have made a big impact.
To help safeguard livelihoods during the pandemic, our team at Ministry of Finance (Singapore) rolled out a total of $1.4 billion of fiscal support for workers and businesses over the Stabilisation Phase from 27 Sept to 21 Nov this year.
As I had shared previously, we need not draw on the Past Reserves to fund the support measures, as our revenues have turned out to be higher than expected this year.
To ensure timely rollout of the support measures, MOF took an advance from the Contingencies Fund – a fund set up for urgent and unforeseen expenditures, like the pandemic. At a later date, we will introduce a Supplementary Supply Bill in Parliament to replace the advances.
Any advances from the Contingencies Fund requires the concurrence of the President. We had raised this matter with President Halimah Yacob earlier, and she has given her concurrence. I thank the President for her support.
As we press on together, I want to thank all public officers and agencies across the Whole-of-Government who have worked tirelessly throughout the pandemic. Your efforts – in every agency and every capacity – have been invaluable, and have made a big impact.
Lawrence walks and jogs down Orchard Road. 
https://www.facebook.com/LawrenceWongST?__tn__=<<*F
Not my usual route, but thought it would be nice to walk/jog down Orchard Road for a change, and soak in the Xmas lights and spirit!
https://www.facebook.com/LawrenceWongST?__tn__=<<*F
Lawrence Wong
4 hrs · Instagram ·Not my usual route, but thought it would be nice to walk/jog down Orchard Road for a change, and soak in the Xmas lights and spirit!
Lawrence discusses the budget.
As we edge closer to #Budget2022, some of you still might not be too sure what exactly the Budget is all about, and why it is such an important milestone. Like how an individual has to budget for their daily expenses and save for rainy days, Singapore too, does the same.
Watch this video to find out more about our #SGbudget – our country's roadmap for the future.
Lawrence Wong
4 hrs ·As we edge closer to #Budget2022, some of you still might not be too sure what exactly the Budget is all about, and why it is such an important milestone. Like how an individual has to budget for their daily expenses and save for rainy days, Singapore too, does the same.
Watch this video to find out more about our #SGbudget – our country's roadmap for the future.
from msn.com:
https://www.msn.com/en-sg/news/worl...cracy-summit/ar-AARUJR9?ocid=msedgdhp&pc=U531
*Disclaimer: Microsoft News is currently reviewing the accuracy of this story with the publisher due to social media source. Updates will be published here if needed.
Singapore — Speaking on the S$1.4 billion financial scheme rolled out for workers and businesses during the country’s Stabilisation Phase, Finance Minister Lawrence Wong said there was no need to touch past reserves as revenues have turned out to be higher than expected in 2021.
The fiscal support was extended to affected parties from Sept 27 to Nov 21 this year to help safeguard livelihoods during the pandemic, said Mr Wong in a Facebook post on Thursday (Dec 9).
He noted that there was no need to draw from Singapore’s reserves to fulfil the financial support.
A half-month rental waiver was rolled out to qualifying tenants of government-owned commercial properties, stallholders in food centres managed by the National Environment Agency (NEA) or NEA-appointed operators, as well as qualifying tenant-occupiers and owner-occupiers of privately owned commercial properties.
At a later date, we will introduce a Supplementary Supply Bill in Parliament to replace the advances, said Mr Wong.
As any advances from the Contingencies Fund require the concurrence of the President, Mr Wong highlighted that this had been approved by President Halimah Yacob at an earlier date.
“As we press on together, I want to thank all public officers and agencies across the whole of government who have worked tirelessly throughout the pandemic,” he noted.
“Your efforts – in every agency and every capacity – have been invaluable and have made a big impact,” he added.
‘No need to draw on S’pore reserves as revenues turned out higher than expected’ — Lawrence Wong on S$1.4 billion fiscal support for workers & businesses
https://www.msn.com/en-sg/news/worl...cracy-summit/ar-AARUJR9?ocid=msedgdhp&pc=U531
*Disclaimer: Microsoft News is currently reviewing the accuracy of this story with the publisher due to social media source. Updates will be published here if needed.
Singapore — Speaking on the S$1.4 billion financial scheme rolled out for workers and businesses during the country’s Stabilisation Phase, Finance Minister Lawrence Wong said there was no need to touch past reserves as revenues have turned out to be higher than expected in 2021.
The fiscal support was extended to affected parties from Sept 27 to Nov 21 this year to help safeguard livelihoods during the pandemic, said Mr Wong in a Facebook post on Thursday (Dec 9).
He noted that there was no need to draw from Singapore’s reserves to fulfil the financial support.
The financial support was extended in various measures, such as the enhancement of the Jobs Support Scheme, which provides wage support to businesses to help retain local employees and rental waivers.
A half-month rental waiver was rolled out to qualifying tenants of government-owned commercial properties, stallholders in food centres managed by the National Environment Agency (NEA) or NEA-appointed operators, as well as qualifying tenant-occupiers and owner-occupiers of privately owned commercial properties.
Taxi drivers and private-hire car drivers also received support of S$10 per vehicle per day in November and S$5 per day in December.
To ensure the timely rollout of the support measures, he explained that the Ministry of Finance (MOF) took an advance from the Contingencies Fund, which is established for urgent and unforeseen expenditures like the pandemic.At a later date, we will introduce a Supplementary Supply Bill in Parliament to replace the advances, said Mr Wong.
As any advances from the Contingencies Fund require the concurrence of the President, Mr Wong highlighted that this had been approved by President Halimah Yacob at an earlier date.
“As we press on together, I want to thank all public officers and agencies across the whole of government who have worked tirelessly throughout the pandemic,” he noted.
“Your efforts – in every agency and every capacity – have been invaluable and have made a big impact,” he added.
from straitstimes.com:
SINGAPORE - The Ministry of Finance has taken an advance from a contingency fund to pay for $1.4 billion worth of measures rolled out to help workers and businesses from Sept 27 to Nov 21 as Singapore worked to bring down Covid-19 cases.
Finance Minister Lawrence Wong, announcing this in a Facebook post on Thursday (Dec 9), added that the Government tapped the Contingencies Fund to ensure the timely roll-out of the support measures.
He said that the Government did not have to draw on Singapore's past reserves to fund the measures as its revenues have turned out to be higher than expected this year.
The Government had set aside $13 billion in Budget 2020 in the Contingencies Fund and Development Contingencies Fund, set up for urgent, unforeseen expenditures.
Under the Constitution, Parliament can create the funds to pay for unexpected requirements which are not provided for in the Supply Act, which controls the amount of money that the Government may spend in a given financial year.
The President must consent to any advances from the Contingencies Fund.
Mr Wong, citing this, said: "We had raised this matter with President Halimah Yacob earlier, and she has given her concurrence."
He added that at a later date, the Government will introduce a Supplementary Supply Bill in Parliament to replace the advances. Parliament's approval is required for the use of more money in a financial year after the Budget is passed.
Singapore entered a stabilisation phase on Sept 27 as Covid-19 cases climbed, putting in place restrictions on social gatherings and dining at food and beverage establishments. The phase was meant to end after Oct 24, but with hospital and intensive care unit beds still at close to full occupancy then, the phase was extended until Nov 21.
To help workers and businesses tide over the period, some $1.4 billion worth of support measures were rolled out, including wage subsidies for firms in badly hit sectors such as food and beverage, retail and tourism.
"As we press on together, I want to thank all public officers and agencies across the whole of Government who have worked tirelessly throughout the pandemic. Your efforts - in every agency and every capacity - have been invaluable, and have made a big impact," said Mr Wong in his post.
$1.4b used from contingency fund to pay for Covid-19 stabilisation phase support schemes: Lawrence Wong
SINGAPORE - The Ministry of Finance has taken an advance from a contingency fund to pay for $1.4 billion worth of measures rolled out to help workers and businesses from Sept 27 to Nov 21 as Singapore worked to bring down Covid-19 cases.
Finance Minister Lawrence Wong, announcing this in a Facebook post on Thursday (Dec 9), added that the Government tapped the Contingencies Fund to ensure the timely roll-out of the support measures.
He said that the Government did not have to draw on Singapore's past reserves to fund the measures as its revenues have turned out to be higher than expected this year.
The Government had set aside $13 billion in Budget 2020 in the Contingencies Fund and Development Contingencies Fund, set up for urgent, unforeseen expenditures.
Under the Constitution, Parliament can create the funds to pay for unexpected requirements which are not provided for in the Supply Act, which controls the amount of money that the Government may spend in a given financial year.
The President must consent to any advances from the Contingencies Fund.
Mr Wong, citing this, said: "We had raised this matter with President Halimah Yacob earlier, and she has given her concurrence."
He added that at a later date, the Government will introduce a Supplementary Supply Bill in Parliament to replace the advances. Parliament's approval is required for the use of more money in a financial year after the Budget is passed.
Singapore entered a stabilisation phase on Sept 27 as Covid-19 cases climbed, putting in place restrictions on social gatherings and dining at food and beverage establishments. The phase was meant to end after Oct 24, but with hospital and intensive care unit beds still at close to full occupancy then, the phase was extended until Nov 21.
To help workers and businesses tide over the period, some $1.4 billion worth of support measures were rolled out, including wage subsidies for firms in badly hit sectors such as food and beverage, retail and tourism.
"As we press on together, I want to thank all public officers and agencies across the whole of Government who have worked tirelessly throughout the pandemic. Your efforts - in every agency and every capacity - have been invaluable, and have made a big impact," said Mr Wong in his post.
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